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Star Bulk Carriers (SBLK)
:SBLK
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Star Bulk Carriers
(NASDAQ:SBLK)
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Rating:68Neutral
Price Target:
$21.00
▲(20.34% Upside)
Star Bulk Carriers' overall stock score reflects a mixed financial performance with declining profitability and cash flow, offset by positive technical indicators and a favorable earnings call outlook. The high P/E ratio suggests overvaluation, but the dividend yield provides some investor appeal. The company's strategic investments and fleet optimization efforts are positive, but debt levels and market challenges remain concerns.
Positive Factors
Fleet Optimization
Fleet optimization through strategic sales and acquisitions enhances operational efficiency and aligns with market demand, supporting long-term profitability.
Positive Market Outlook
Projected growth in dry bulk trade indicates a favorable market environment, potentially boosting demand for Star Bulk's services and supporting revenue growth.
Strong Financial Position
A robust cash position and liquidity provide financial flexibility for strategic investments and debt management, enhancing long-term stability.
Negative Factors
Declining Revenue Growth
Declining revenue growth poses a challenge to sustaining profitability and may affect the company's ability to invest in future growth opportunities.
Debt Levels
High debt levels and ongoing amortization obligations could strain cash flow, limiting financial flexibility and impacting long-term financial health.
Coal Trade Contraction
Contraction in coal trade could reduce demand for Star Bulk's services in this sector, impacting revenue and necessitating diversification of cargo types.
Star Bulk Carriers (SBLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.26B
Dividend Yield4.15%
Average Volume (3M)844.09K
Price to Earnings (P/E)37.7
Beta (1Y)1.13
Revenue Growth-13.87%
EPS Growth-82.48%
CountryUS
Employees301
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.28
Shares Outstanding114,585,310
10 Day Avg. Volume1,167,910
30 Day Avg. Volume844,086
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.66
Price to Sales (P/S)1.29
P/FCF Ratio3.95
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue2.60
Enterprise Value/Gross Profit7.59
Enterprise Value/Ebitda9.52
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.16
Revenue Forecast (FY)$868.59M
Star Bulk Carriers Business Overview & Revenue Model
Company DescriptionStar Bulk Carriers Corp. is a leading global provider of maritime transportation services, specializing in the transportation of dry bulk cargoes such as iron ore, coal, and grain. The company operates a diversified fleet of bulk carriers, ranging from Supramax to Newcastlemax vessels, which allows it to serve a variety of customers across different sectors. With a focus on operational efficiency and sustainability, Star Bulk Carriers is dedicated to delivering reliable shipping solutions while maintaining high safety and environmental standards.
How the Company Makes MoneyStar Bulk Carriers generates revenue primarily through the chartering of its bulk carrier vessels. The company operates under two main revenue models: time charters and voyage charters. In time charters, Star Bulk leases its vessels to customers for a fixed period at a predetermined rate, providing a steady stream of income. In voyage charters, the company is paid per voyage based on the distance and cargo transported. The earnings are influenced by various factors, including global trade demand, shipping rates, and operational costs. Additionally, Star Bulk benefits from long-term contracts with customers in key industries, which provide stability to its revenue streams. The company also focuses on optimizing its fleet utilization and maintaining operational efficiencies to enhance profitability.
Star Bulk Carriers Earnings Call Summary
Earnings Call Date:Nov 18, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 18, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with strong financial performance, shareholder returns, and strategic investments in fleet optimization. However, concerns remain over the debt levels and challenges in specific trade sectors like coal and China's property market.Q3-2025 Updates
Positive Updates
Strong Financial Position
The company reported a net income of $18.5 million with an adjusted net income of $32.4 million. Adjusted EBITDA was $87 million for the quarter. The company's total cash stands at $454 million, with a pro forma liquidity of more than $570 million.
Shareholder Returns
Star Bulk Carriers repurchased 250,000 shares for $4.4 million in Q3 and 360,000 shares for $6.7 million in Q4, with a dividend declared of $0.11 per share. Since 2021, the company has returned $13.2 per share in dividends, totaling $2.8 billion in dividends, share buybacks, and debt repayment.
Vessel Operations and Investments
Operating expenses were $5,096 per vessel per day, and the company secured $130 million in debt for five new Qingdao newbuilding Kamsarmax vessels. Additionally, 51 EST installations were completed with four vessels completed during the quarter.
Fleet Optimization
Star Bulk has sold and delivered 6 Kamsarmax and Supramax vessels, collecting $75.5 million, and expects to deliver an additional 2 Supramaxes with $25 million in proceeds.
Positive Market Outlook
Dry bulk trade is projected to expand by 1.4% in ton-miles for 2025, with a recovery in coal and grain trade volumes. The global GDP growth is forecasted at 3.1% for 2026, supporting an optimistic medium- to long-term outlook for the dry bulk market.
Negative Updates
Debt Levels
Total debt stands at $1.028 billion, and amortization will remain around $50 million to $52 million per quarter for 2026.
Coal Trade Contraction
Coal trade is expected to contract by 6.2% in 2025 and by 1.1% in 2026, with demand in China and India weaker in the first half of 2025.
Challenges in Property Sector
China's property sector remains under pressure despite record high steel exports mitigating domestic consumption weakness.
Company Guidance
During the third quarter of 2025, Star Bulk Carriers reported a net income of $18.5 million and an adjusted net income of $32.4 million, equating to $0.16 per share. The company achieved an adjusted EBITDA of $87 million for the quarter. They repurchased 250,000 shares for $4.4 million and declared a dividend of $0.11 per share, payable on or before December 18, 2025. Star Bulk maintained a cash balance of $454 million against a total debt of $1.028 billion. The company has pro forma liquidity exceeding $570 million, factoring in $115 million from undrawn revolver facilities. With 15 debt-free vessels valued at $336 million, the company achieved a time charter equivalent rate of $16,634 per vessel per day, while daily operating expenses and cash general and administrative expenses per vessel stood at $6,421. This results in a TCE less OpEx and cash G&A of approximately $10,213 per vessel per day.Star Bulk Carriers Financial Statement Overview
Summary
Star Bulk Carriers faces a challenging financial landscape with declining revenue and profitability margins in the TTM. While the company has managed to improve its leverage position, the decrease in return on equity and cash flow growth rates highlight areas of concern. The company needs to focus on enhancing operational efficiency and cash flow generation to navigate the current market conditions effectively.Income Statement
Star Bulk Carriers has experienced a decline in revenue growth rate of -7.11% in the TTM, reflecting a challenging market environment. The gross profit margin has decreased from 46.04% in 2024 to 34.30% in the TTM, indicating pressure on profitability. The net profit margin has also significantly dropped from 24.07% to 5.85% in the same period. However, the company maintains a reasonable EBIT margin of 10.98% and an EBITDA margin of 27.37%, suggesting some operational efficiency.65
Positive
Balance Sheet
The company's debt-to-equity ratio has improved to 0.50 in the TTM from 0.59 in 2024, indicating better leverage management. However, the return on equity has decreased to 2.52% from 12.28%, reflecting reduced profitability. The equity ratio stands at 63.74%, showing a strong equity base relative to total assets, which is a positive sign of financial stability.70
Positive
Cash Flow
Star Bulk Carriers' free cash flow growth rate has declined by -14.62% in the TTM, indicating potential cash flow challenges. The operating cash flow to net income ratio is 0.74, suggesting that operating cash flow covers net income adequately, but not as robustly as in previous years. The free cash flow to net income ratio is 0.88, showing that free cash flow is nearly aligned with net income, albeit lower than in prior periods.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.05B | 1.27B | 949.27M | 1.44B | 1.43B | 693.24M |
| Gross Profit | 360.43M | 582.64M | 394.75M | 820.71M | 930.25M | 242.76M |
| EBITDA | 287.58M | 504.86M | 334.84M | 765.78M | 887.19M | 208.94M |
| Net Income | 61.47M | 304.65M | 173.56M | 566.00M | 680.53M | 9.66M |
Balance Sheet | ||||||
| Total Assets | 3.79B | 4.09B | 3.03B | 3.43B | 3.75B | 3.19B |
| Cash, Cash Equivalents and Short-Term Investments | 452.54M | 425.07M | 259.73M | 284.32M | 450.29M | 190.51M |
| Total Debt | 1.20B | 1.46B | 1.26B | 1.29B | 1.59B | 1.56B |
| Total Liabilities | 1.37B | 1.60B | 1.37B | 1.41B | 1.67B | 1.64B |
| Stockholders Equity | 2.42B | 2.48B | 1.66B | 2.02B | 2.08B | 1.55B |
Cash Flow | ||||||
| Free Cash Flow | 241.26M | 412.28M | 317.69M | 744.50M | 636.92M | 98.49M |
| Operating Cash Flow | 275.08M | 467.38M | 335.78M | 769.90M | 767.07M | 170.55M |
| Investing Cash Flow | 173.08M | 356.18M | 235.52M | -20.87M | -121.26M | -66.33M |
| Financing Cash Flow | -462.40M | -644.42M | -595.89M | -935.95M | -368.07M | -34.95M |
Star Bulk Carriers Technical Analysis
Positive
17.45
Price Trends
18.53
Positive
18.67
Positive
17.19
Positive
Market Momentum
0.36
Negative
64.06
Neutral
95.32
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBLK, the sentiment is Positive. The current price of 17.45 is below the 20-day moving average (MA) of 18.87, below the 50-day MA of 18.53, and above the 200-day MA of 17.19, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 64.06 is Neutral, neither overbought nor oversold. The STOCH value of 95.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SBLK.
Star Bulk Carriers Risk Analysis
Star Bulk Carriers disclosed 54 risk factors in its most recent earnings report. Star Bulk Carriers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Star Bulk Carriers Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $1.78B | 3.87 | 13.16% | 3.57% | 3.82% | -13.73% | |
76 Outperform | $1.56B | 5.49 | 14.98% | 3.01% | -29.82% | -16.77% | |
72 Outperform | $1.53B | 6.06 | 8.33% | 0.37% | -1.33% | -33.68% | |
68 Neutral | $2.26B | 37.74 | 2.50% | 4.15% | -13.87% | -82.48% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | $1.08B | ― | -0.15% | 12.24% | -11.10% | -101.57% |
* Industrials Sector Average
SBLK
Star Bulk Carriers
19.74
3.01
17.99%
CMRE
Costamare
15.27
5.83
61.76%
DAC
Danaos
97.34
20.61
26.86%
NMM
Navios Maritime Partners
53.39
5.70
11.96%
SFL
SFL Corporation
8.16
-1.21
-12.91%
Star Bulk Carriers Corporate Events
Star Bulk Carriers Reports Q3 2025 Earnings and Fleet Expansion
Nov 20, 2025
Star Bulk Carriers Corp. is a global shipping company specializing in the transportation of dry bulk cargoes, with a fleet that includes various vessel types such as Newcastlemax, Capesize, and Kamsarmax. The company operates within the maritime transportation industry, focusing on major and minor bulk commodities.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.